Alameda County Employees’ Retirement Association, Oakland, Calif., committed $60 million to Orchard Global EleganTree Opportunities Fund III.
The $11.8 billion pension fund disclosed the commitment to the private credit fund managed by Orchard Global Asset Management in materials for its Feb. 20 board meeting.
It is ACERA’s first commitment to a fund managed by Orchard Global.
As of June 30, the pension fund’s actual allocation to private credit was 2.5%; the target is 4%.
